Musk’s Last Christmas At Twitter… Maybe

Musk’s Last Christmas At Twitter… Maybe

about 1 year ago2 mins

Mentioned in story

Elon Musk polled Twitter users, and they said on Monday that he should give up the “chief twit” gig.

What does this mean?

Hallmark Christmas movies can only entertain you for so long, but you can count on Musk to bring the drama when you need a break from the corporate-man-learns-the-meaning-of-love storylines. The world’s second richest man just put his Twitter future in the hands of a poll: Musk asked the platform’s users – and bots, presumably – whether he should step down as chief executive, and they answered “yes”. Now, he had promised to stand by the results, it’s true, but he also tweeted that he doubts anyone’s good enough and keen enough to replace him. So if this is Musk’s dramatic exit, it’s likely to be a lot more drawn out than your average conclusion – and only time will tell if there’s another twist to come.

Elon Musk Twitter poll
Source: Twitter

Why should I care?

Zooming out: One man’s trash is the same man’s treasure.

Musk’s wrecking-ball approach has slashed Twitter’s costs. Problem is, the firm’s all-important advertising revenue looks to be shrinking too. So with Twitter’s future in the balance, the self-proclaimed “chief twit” may even have to sell the company – and possibly for a lot less than he bought it for. That would leave Musk nursing a bruised pride and an ego-shattering loss, sure, but those tax losses could offset any taxable gains from Tesla stock sales. Given the billions involved, that definitely beats a Band-Aid and an aspirin.

Twitter ad manager visits
Source: The Wall Street Journal, Similarweb

For markets: Driving home for Christmas.

Tesla’s share price has been sinking fast while its head honcho’s brain and bucks have been focused elsewhere. And to make matters worse, slowing demand and an incoming surge of competitors have pushed investors to dramatically downgrade their Tesla outlooks. Shareholders, then, will be on cloud nine at the prospect of Musk dropping his social media mistress, and heading home to play happy families once again.

Tesla stock
Source: Google Finance
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